The authorities are likely to appeal to the court, seeking clarity on how their dues are to be recovered.
Days after the Supreme Court gave home buyers the first claim of rights over the debt-ridden Amrapali Group projects and restraining Noida and Greater Noida Authorities from staking any claim on it in its landmark judgment on July 23, the authorities are likely to appeal to the court, seeking clarity on how their dues are to be recovered.
As per the report, the authorities would also seek clarity on registry and giving completion certificates etc. The senior officials in both the authorities have claimed that their legal teams are reviewing the judgment and they have found doubts in some sections and for that they would seek clarifications from the apex court.
In its judgment, the court had directed the authorities to recover their dues from the sale of Amrapali Group’s other assets that have been attached in several parts of the country. On this matter, the authorities, as per the report, asserted that the value of attached property of Amrapali Group is not enough to clear their dues, hence they would seek clarity on how their dues would be cleared.
The authorities were asked to issue completion certificates and execute the tripartite agreement within one month in projects where home buyers are residing and provide them electricity supply.
“We do need more clarity on how our dues will be cleared, who will apply for the registry and how or whom the completion certificates will be issued. Our legal team is working on representation that will made on the next hearing,” Ritu Maheshwari, CEO, Noida Authority was quoted in TOI.
In its judgment, the court had mentioned that the dues of Noida and Greater Noida Authorities are Rs 2,191.38 crore and Rs 3234.71 crore respectively. News reports also claimed that due to insufficient funds the Greater Noida authority has decided to stall big projects, including metro project from Noida to Greater Noida West, Sewage Treatment Plant (STP) project in Greater Noida West etc.
This news has annoyed nearly 3 lakh residents living in several multi-stories, waiting for better facilities to commute and other development in the newly developed area, Greater Nodia West. Residents of the area have expressed their concern over the decision saying projects like metro, STP, under pass at Kishan Chowk etc. must be completed on priority basis for giving better facilities to the tax payers.
However, the top court on July 23 had made it clear that the developer (Amrapali Group) is not the only culprit, and held Noida and Greater Nodia authorities and banks equally responsible. It is said that the Noida and Greater Noida authorities were neglected in reviewing and monitoring the process of the projects, while banks failed to ensure that the money was used properly. “Noida and Greater Noida authorities shall have no right to sell the flats of the home buyers or the land leased out for the realisation of their dues. Their dues shall have to be recovered from the sale of other properties which have been attached. The direction holds good for the recovery of the dues of the various banks also,” the Apex Court has asserted in its judgment.